A point estimate is associated with a high level of confidence that the estimate is in fact equal to the population mean.

Question

Quizplus · Accepted Answer

A point estimate gives only a single value as an estimate of the population mean, and there is always a level of uncertainty associated with it. Therefore, it is not associated with a high level of confidence that the estimate is in fact equal to the population mean. Confidence intervals, on the other hand, give a range of values that are likely to contain the population mean with a certain level of confidence.

A Point Estimate Is Associated with a High Level of Confidence